Originally Posted by Nightshade
Yeah there are tax breaks to gas companies like Exxon who made record incomes of something like 18 billion dollars last year.
Don't give me that bs about the US trying to go full steam into the search for alternative fuels, if that were the case the gas companies would be getting hit for more tax, and that money would go directly into breaks for companies producing solar, and other alternatives to fossil consumption.
Well, I don't know about all that. If the taxe breaks are related to research and development for alternate fuels or for increased production of ethanol, etc. then there's no reason to withhold them merely because a company is doing well. If the tax breaks are really a kick back to their buddies, then it is b.s.
As far as promoting alternate fuels through the implementation of an artificial market condition, that is total b.s. If you're already pissed about high gas prices, tax the oil companies more and see what happens to gas prices. They'll pass every cent along to the consumer and because alternate forms of transportation are still too expensive, everyone will pay it. Oil companies wouldn't feel any problem and wouldn't have any incentive to look into other fuel sources.
The reason I am in favor of the bill (in theory, haven't read it all for myself to know) is that it provides a business incentive for R&D into alternate fuels. Once alternate fueled vehicles are close to similarly priced to oil, the market may shift. Until then, it's all a pipe dream and we're stuck with what we've got.